Starwood Capital Group today announced that it has acquired, through a controlled affiliate, the newly constructed 286-key The Jeremy West Hollywood hotel property in West Hollywood, Ca. Terms of the transaction were not disclosed.
First Location Open in Concord, N.C.; More than 10 Properties to Open by 2019
The joint venture plans to focus on developing, operating, and branding assets in the rapidly growing hotel market in China via both management contracts and leasing agreements
Starwood Capital Group, through a controlled affiliate of Starwood Global Opportunity Fund X (SOF X), will own 70% of the joint venture company, while HI Partners will own the remaining 30%. HI Partners - majority-owned by Banc Sabadell, the fifth-largest banking group in Spain - will serve as the manager of the joint venture, which is expected to deploy approximately €500 million in the Spanish hotel sector over the next three years.
This deal, which was completed by a controlled affiliate of Starwood Capital Group, consists of 6,106 rooms primarily in the Southeast, including desirable markets in North Carolina, Florida, Texas, Georgia and Alabama. With this acquisition, InTown Suites will become the largest owner of economy extended-stay hotels in the United States, with one hundred and eighty nine owned locations and 24,154 suites.
Starwood Capital Group announced today that it has completed, through a controlled affiliate, the sale of the Ace Hotel London Shoreditch to Limulus Ltd., which was advised by The Deerbrook Group.
Baccarat Hotel & Residences New York is the first hotel and global flagship for the 250 year-old Baccarat crystal brand. Directly across the street from the Museum of Modern Art and steps away from Fifth Avenue's legendary shopping, the hotel occupies the first 12 floors of the split level tower that rises 550 feet above West 53rd Street.
Through Starwood affiliate Star SDL Investment Co., Groupe du Louvre was sold to the Luxemburg-based subsidiary of Shanghai Jin Jiang International Hotels Development Co., Ltd., for an amount of €1.3 billion.
Starwood Capital Group and Spanish hotel operator Melia Hotels International announced yesterday that they have established a joint venture that has agreed to acquire a collection of hotels across key resort locations in Spain.
Starwood Capital Group announced today that it has agreed to sell, on behalf of a controlled affiliate, the Baccarat Hotel New York at 20 West 53rd Street in Manhattan to an affiliate of Sunshine Insurance Group.